ISLAMABAD: The Supreme Court of Pakistan (SC) on Tuesday directed companies and individuals to return money to the country or face consequences.
During a suo moto notice case hearing pertaining to illegal waivers of bank loans by influential people and companies, Chief Justice of Pakistan (CJP) Saqib Nisar warned the accused to return the nation’s money.
CJP Nisar said that the nation carried a huge debt burden, adding that if the courts failed to recover nation’s lost wealth, then being in this position was worth nothing.
The apex judge extended one more chance to the accused parties to pay 25 percent principal amount on the loans they got waived illegally.
CJP Nisar warned that the apex court will send all 222 cases of illegal loan waivers to the banking courts if the accused failed to pay 25 percent of the principal amount in SC’s account.
Apex Judge further added that the court will decide a markup itself.
He added that the banking courts will be instructed to wrap up all the cases in six weeks.
The hearing was adjourned till June 27.